Morning Report

The key support at 88.10 was able to limit further declines for the USD/JPY pair which pushed the pair to the upside yet the 50 MA continues to pressure the pair to the downside. We see that the decline is favored for today as we expect the pair to decline on the intraday basis targeting 86.75 as far as 90.20 is intact.

The trading range for today is among the key support at 86.75 and the key resistance at 93.75

The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60

RecommendationBased on the charts and explanations above, our opinion is selling the pair with the breach of 88.10 to 86.75 and stop loss above 89.15 might be appropriate.